Fiji’s South Pacific Stock Exchange Pte Limited (“SPX”) and Papua New Guinea’s PNGX Group Limited (“PNGX Group”) have reaffirmed the commitment to fostering innovation and enhancing sustainability in the capital markets of Fiji, Papua New Guinea and the wider South Pacific region by entering into a Memorandum of Understanding to explore technology sharing opportunities (“MOU”).
The MOU sets the foundation for deepening cooperation to advance shared objectives, including developing and deploying innovative market infrastructure that supports the growth and sustainability of capital markets in the region. This renewed partnership builds on the MOU signed by SPX and PNGX Markets Limited in December 2019.
Strategic Areas of Cooperation
Under the MOU, SPX and PNGX Group will explore:
- Technology infrastructure development including joint initiatives to create integrated platforms for trading, clearing, settlement, registration, and websites.
- Opportunities to operate the stock exchanges of Fiji and Papua New Guinea on shared technology platforms thereby capitalizing on synergies in operations to enhance efficiency, accessibility and the global appeal of the capital market in the South Pacific.
This strategic partnership reflects a shared vision of creating robust, efficient, and inclusive capital markets that drive regional economic growth.
Both SPX and PNGX Group will retain their own commercial and local identities and operations.
Nitin Gandhi, SPX Chair, said "This collaboration marks a pivotal step toward exploring integration and strengthening of capital markets in Fiji and Papua New Guinea. Together, we are committed to unlocking new opportunities and driving economic progress across the region."
David Lawrence, PNGX Group Chairman added "Our enhanced partnership underscores a unified vision to provide resilient market infrastructure, foster the sustainability of both exchanges, and promote regional long-term investment. By supporting the development of regional capital markets, we aim to deliver meaningful opportunities for economic development.”